Computer implemented continuous dual auction system

Abstract

A computer implemented continuous dual auction system consisting of a computer, server, and a process for creating a real-time, or substantially real-time, online marketplace for the sale of goods and services. The process includes the input of information from a seller about a certain good or service for sale, including but not limited to a price desired and a price the seller is willing to accept. The process also includes the input of information from a buyer about a certain good or service desired, including but not limited to a price a buyer is willing to pay for such a good or service. The process also can include the input of credit card information for validation and guaranty purposes in allowing the buyer and seller to post a bid or offer, respectively, into the continuous dual auction system's real-time, or substantially real-time, online marketplace.

What is claimed is: 
     
       1. A non-transitory computer readable storage medium encoded with processing instructions for performing a method of implementing a hybrid marketplace configured for simultaneously implementing a plurality of potential transactions for an item while taking care to avoid unintended sales, the plurality of potential transactions including:
 an auction; 
 a negotiation; and 
 a direct sale, 
 
       the method of implementing the hybrid marketplace comprising:
 receiving, electronically, through an item input interface, over a network, and from a first user via a first user device, item information, a first number as an offer, and a second number as a proxy offer; 
 storing the item information, the first number, and the second number in a database; 
 establishing a plurality of computer interfaces accessible over a network for simultaneously conducting the auction, the negotiation, and the direct sale for the item, wherein establishing comprises:
 establishing an auction interface comprising retrieving the item information and the first number from the database and displaying the item information, the first number, and input fields relating to the item, the input fields including a bid input, and a proxy bid input; 
 establishing a negotiation interface comprising retrieving the item information from the database and displaying the item information, a negotiation dialog box for facilitating negotiation communications between the first user and another user, an agreement input, and an agreed upon price input; and 
 establishing a direct sale interface comprising retrieving the item information and the first number from the database and displaying the item information, the first number, and a purchase input; 
 
 actively receiving user inputs via the plurality of computer interfaces, over the network, and relating to the plurality of potential transactions, wherein actively receiving comprises allowing interaction with one or a combination of the plurality of computer interfaces simultaneously, the interaction with the interfaces comprising:
 via the auction interface:
 receiving, electronically, over the network, and from a second user via a second user device, a third number via the bid input and a fourth number via the proxy bid input; and 
 storing the third number and the fourth number in the database; 
 
 via the negotiation dialog box:
 receiving, electronically, over the network, and from the second user or a third user via a respective user device, a statement regarding a negotiated price for the item; 
 storing the statement in the database; 
 prompting the first user via the first user device that a negotiation has commenced; 
 retrieving the statement from the database and presenting the statement to the first user; 
 receiving, electronically, over the network, and from the first user via the first user device, a responsive statement from the first user, regarding the negotiated price for the item, and responsive to the statement; 
 storing the responsive statement in the database; 
 receiving, electronically, over the network, and from the first user via the first user device, an indication of agreement via the agreement input and a fifth number via the agreed upon price input; and 
 storing the agreement input and the fifth number in the database; and 
 
 via the direct sale interface:
 receiving a purchase input from the second user, the third user, or a fourth user indicating agreement to pay for the item in an amount equal to the first number; and 
 storing the purchase input in the database; 
 
 
 continually analyzing the user inputs to determine if any of the transactions have resulted in a sale and identifying the other of the plurality of transactions as nullified transactions, wherein continually analyzing and identifying comprises:
 comparing the first number to the fourth number and the second number to the third number when each of these numbers is entered and when each of these numbers changes and:
 if the first number is lower than the fourth number, executing a proxy system sale at the first number; 
 if the second number is lower than the third number, executing a proxy sale at the third number; and 
 identifying the negotiation for the item and the direct sale for the item as nullified; 
 
 monitoring the agreement input and if an agreement input is received, identifying the auction for the item and the direct sale for the item as nullified; and 
 monitoring the purchase input and if a purchase input is received, identifying the auction for the item and the negotiation for the item as nullified; and 
 
 automatically and immediately converting the nullified transactions to inactive transactions, wherein converting comprises:
 when the auction is nullified, disabling the bid input and the proxy bid input and displaying an indication that the auction has ended; 
 when the negotiation transaction is nullified, revoking access of all users to the negotiation dialog box and displaying an indication that the item is no longer available; and 
 when the direct sale is nullified, disabling the purchase input.